Sydney’s new apartment market posted a healthy performance in the December 2016 quarter, with sales remaining steady, according to new research released today by leading property consultants, Urbis.
With 680 recorded new apartment sales in the December 2016 quarter, of a sample of approximately a quarter of the market, the Sydney new apartment market remained stable as expected.
Urbis Associate Director of Property Economics and Research, Alex Stuart, said that the result was as expected, with confidence in the Sydney new apartment market remaining high.
This high level of confidence translated to seventeen new project launches in the December 2016 quarter across Inner Sydney, equating to 4,074 apartments.
However, despite the high number of apartment launches experienced in 2016, Mr Stuart noted that the number of apartments in development application approved per quarter has seen a steady decline.